Search Inside Bitcoins

Integrated Ventures Purchases WhatsMiner Equipment

New york Miner Hardware Maker Canaan Announced $10 Million worth Share Buyback
New york Miner Hardware Maker Canaan Announced $10 Million worth Share Buyback

Integrated Ventures, the company self-described as a group with “focus on blockchain and cryptocurrency sector,” has purchased WhatsMiner equipement, according to a press release.

The equipment it purchased from the group is:

Punt Crypto Casino Banner
  • Antminer S17Pro/56TH – 100 units (*)
  • Antminer S17Pro/73TH – 72 units (*)
  • Antminer Z11/138 – 5 units (*)
  • Antminer S19Pro/110TH – 2 units (*)
  • WhatsMiner M31/74TH – 110 units (**)

By December 15 of this year, the company will have purchased 395 units.

Speaking on the matter is Steve Rubakh, CEO of Integrated Ventures, who said:

“The Company is deploying recently raised capital for purchases of the mining equipment, driven by:

  • decrease in power and general operating costs
  • improved profitability and efficience of the mining equipment
  • recovery and recent performance of the cryptocurrency markets
  • significant BTC purchases, reported by major institutions
  • cryptocurrency sector’s maturity, positive developments and acceptance as a viable investment.

Estimated unaudited annual mining revenues, based on BTC price of $17,000 are tracking at $950,000+ vs actual revenues of $454,170 for year 2020.

Thus, subject to the equipment availability, the Company intends to execute purchases of the mining equipment, on bi-weekly basis, mainly relying on current and future cash flow. We expect to deliver revenue and profitability growth and see a great potential for the M&A driven business expansion opportunities, going forward.”

Read next

X

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

Buy Crypto

68% of retail investor CFD accounts lose money.

eToro - Best Cryptocurrency Platform
Buy Crypto

68% of retail investor CFD accounts lose money.

X